Santander’s PagoFX launches solution for UK’s sole traders amidst COVID-19

Source: IBS Intelligence 2020-06-17

Santander’s low-cost international money transfer service, PagoFX has been made available to 3.5 million UK sole traders. This will allow sole traders to register and transfer money abroad with the transparency of fees and real-time exchange rates. The service has also seen the addition of eight new currencies from the Middle East and Central and Eastern Europe, including Israel, Turkey, Romania and Croatia.

PagoFX will also extend its no-fee programme for two months, and continue to waive all fees on transactions ( up to a limit of 3,000 GBP per user) until the 16th August 2020. This is expected to support sole traders, amidst COVID-19, with business across borders.

Cedric Menager, CEO at PagoFX, commented, “From the outset, PagoFX has been designed to ensure anyone can make simple, safe and low-cost money transfers, and today’s announcement takes us one step further. We’ve listened to our users and begun rolling out the new features that matter most to them. We are pleased to now support sole traders across the UK and extend our current no-fee programme to them during these uncertain times. Whether you prefer to use mobile apps or a web browser, you can expect an easy-to-use, secure and fast process with PagoFX.”

PagoFX also introduced its new web services, thus allowing any UK resident to use the solution on any device. Sole traders will be required to undergo a verification process before initiating transfers.

Banco Santander announced the launch of its low-cost international money transfer service, PagoFX in the UK in April 2020. PagoFX enables UK residents with a debit card to transfer money abroad from their smartphone with low costs, bank-level security and customer support through via in-app chat, web and e-mail. It is the open-market version of Santander’s existing international money transfer service One Pay FX, which offers transparent international transfers to its bank customers in key countries in Europe and the Americas.

Santander Bank

PagoFX

Santander’s PagoFX launches solution for UK’s sole traders amidst COVID-19

Subscribe to Our Newsletter!

Subscribe to Our Newsletter!